Additive manufacturing (AM) processes are not solely used where maximum design freedom meets low lot sizes. Direct microstructure design and topology optimization can be realized concomitantly during processing by adjusting the geometry, the material composition, and the solidification behavior of the material considered. However, when complex specific requirements have to be met, a targeted part design is highly challenging. In the field of biodegradable implant surgery, a cytocompatible material of an application-adapted shape has to be characterized by a specific degradation behavior and reliably predictable mechanical properties. For instance, small amounts of oxides can have a significant effect on microstructural development, thus likewise affecting the strength and corrosion behavior of the processed material. In the present study, biocompatible pure Fe was processed using electron powder bed fusion (E-PBF). Two different modifications of the Fe were processed by incorporating Fe oxide and Ce oxide in different proportions in order to assess their impact on the microstructural evolution, the mechanical response and the corrosion behavior. The quasistatic mechanical and chemical properties were analyzed and correlated with the final microstructural appearance.